68 Main StBinghamton, NY 13905

For Sale
$1,549,300

High-yield, 10-year NN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a 10,818 square foot Dollar General convenience store located at 68 Main St, Binghamton, NY 13905. The property sits on a 0.78-acre lot and boasts a brand new 10-year Double Net (NN) lease commencing October 2024, minimizing landlord responsibilities. The lease includes four, 5-year renewal options with a 10% rental increase in each. Built in 1970 and extensively renovated in 2024, the single-story building features a new roof with a transferable 25-year warranty. The property benefits from excellent visibility along Main Street, a large parking lot, and a pylon sign. The asking price is $1,549,300, representing a price per square foot of $143.22 and an 8.00% cap rate. The property is currently 100% occupied by Dollar General, an investment-grade tenant with a S&P credit rating of 'BBB', providing a strong corporate guarantee. This is a turnkey investment with significant long-term potential. The property's location in Broome County offers easy access to major transportation routes and a thriving local market. This is a rare opportunity to acquire a high-performing retail asset with a secure, long-term lease and substantial upside potential.

Highlights

  • 10,818 SF Dollar General in Binghamton, NY on a 0.78-acre lot.
  • Brand new 10-year NN lease starting October 2024, with four 5-year renewal options and 10% rent increases.
  • Recently renovated (2024) single-story building with a new roof and 25-year transferable warranty.
  • Excellent visibility, ample parking, and pylon signage. Asking price: $1,549,300 ($143.22/SF), 8.00% cap rate.
  • Investment-grade tenant (Dollar General, S&P rating 'BBB') with a strong corporate guarantee; 100% occupancy.

Property Details for 68 Main St

Property type
Other retail properties, Individual retail properties
Square Feet
10,818 SF
Year Renovated
2024
Buildings
1
Stories
1
Lot Size (sq. ft)
33,977 SF

Location Insight

City
Binghamton
County
Broome
State
New York
Latitude
42.0998899
Longitude
-75.9216611
68 Main St, Binghamton, New York

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68 Main St
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